US industrial output tumbled 0.6 percent in January

  • News Digest
WASHINGTON

Feb 17, 2019-

US industrial production fell 0.6 percent in January, stemming in large part from an 8.8 percent plunge in the making of motor vehicles and auto parts. The Federal Reserve said on Friday that that the manufacturing component of the index dropped 0.9 percent last month, reversing a 0.8 percent gain in December. Over the past 12 months, factory production has increased just 2.9 percent. Manufacturing of wood products, computers, electrical equipment, apparel and chemicals also fell in January. The decline suggests a clear cooling at US factories that could prompt a slower pace of growth this year compared to 2018. While job growth has been solid, other sectors of the economy are showing signs for caution. Consumers appeared to retreat in December as the Labor Department reported that retail sales fell. (AP)

Published: 17-02-2019 11:59

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